So my dryer plug is connected to an old school 10-30r outlet. It has no ground wire, just two hots and a neutral. I picked up a 10-30p plug and a 6-15r receptacle to make a pigtail that matches the plug on my planer.

I guess I'm confused by the ground/neutral thing. If I wire it up hot to hot, hot to hot, and ground to neutral, what's going to happen? As I understand it, the 10-30r neutral is also the ground. Is this correct?